This article reviews the development process of the investment theory in rnodern macroeconomics,and it gives priority to introduce the important progress of the investment theory in the recent decade.The standard neoc...This article reviews the development process of the investment theory in rnodern macroeconomics,and it gives priority to introduce the important progress of the investment theory in the recent decade.The standard neoclassical investment theory lays special stress on describing investment decision\|making, so it does not consider any adjustment costs of investment in addition to the price or cost of capital goods bought or leased.The q\|theory assumes that adjustment costs of investment is the convex function of investment amount,i.e. the bigger the investment amount,the higher the marginal adjustment costs.In most empirical studies this adjustment cost function adopts the form of quadratic function.Finally,the newest development of investment theory\_the theory of irreversible investment\_stresses the constant cost of investment adjustment,and thus it has inferred and extended a series of new theories and new views.The approach of the theory of irreversible investment has more general significance,and it is practically a special example of the optimal new microeconomic pattern.展开更多
文摘This article reviews the development process of the investment theory in rnodern macroeconomics,and it gives priority to introduce the important progress of the investment theory in the recent decade.The standard neoclassical investment theory lays special stress on describing investment decision\|making, so it does not consider any adjustment costs of investment in addition to the price or cost of capital goods bought or leased.The q\|theory assumes that adjustment costs of investment is the convex function of investment amount,i.e. the bigger the investment amount,the higher the marginal adjustment costs.In most empirical studies this adjustment cost function adopts the form of quadratic function.Finally,the newest development of investment theory\_the theory of irreversible investment\_stresses the constant cost of investment adjustment,and thus it has inferred and extended a series of new theories and new views.The approach of the theory of irreversible investment has more general significance,and it is practically a special example of the optimal new microeconomic pattern.
